Ethan Allen Interiors (NYSE:ETD) Raised to Hold at Zacks Research

Ethan Allen Interiors (NYSE:ETD) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

A number of other research firms also recently commented on ETD. Telsey Advisory Group cut their target price on shares of Ethan Allen Interiors from $24.00 to $22.00 and set a “market perform” rating for the company in a research report on Thursday, July 30th. Weiss Ratings lowered Ethan Allen Interiors from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 9th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $22.00.

Ethan Allen Interiors Trading Up 1.9%

Shares of NYSE ETD opened at $20.15 on Monday. The firm has a fifty day simple moving average of $21.82 and a two-hundred day simple moving average of $21.75. The firm has a market capitalization of $507.73 million, a PE ratio of 12.92 and a beta of 1.04. Ethan Allen Interiors has a 12 month low of $18.28 and a 12 month high of $28.21.

Ethan Allen Interiors (NYSE:ETD) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.02. Ethan Allen Interiors had a return on equity of 7.88% and a net margin of 6.88%. The company had revenue of $146.75 million for the quarter, compared to analysts’ expectations of $148.70 million. During the same period in the prior year, the firm earned $0.49 earnings per share. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis. On average, sell-side analysts predict that Ethan Allen Interiors will post 1.30 earnings per share for the current year.

Insider Activity

In other news, CEO M Kathwari sold 1,063 shares of Ethan Allen Interiors stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $25.04, for a total transaction of $26,617.52. Following the completion of the sale, the chief executive officer directly owned 22,077 shares in the company, valued at approximately $552,808.08. This trade represents a 4.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 9.92% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC raised its holdings in shares of Ethan Allen Interiors by 154.2% in the third quarter. Nisa Investment Advisors LLC now owns 7,775 shares of the company’s stock worth $163,000 after buying an additional 4,716 shares during the last quarter. SteelPeak Wealth LLC purchased a new position in Ethan Allen Interiors during the 3rd quarter worth approximately $236,000. SummerHaven Investment Management LLC lifted its stake in Ethan Allen Interiors by 21.8% during the 3rd quarter. SummerHaven Investment Management LLC now owns 28,451 shares of the company’s stock valued at $595,000 after acquiring an additional 5,087 shares during the period. Viking Fund Management LLC acquired a new stake in shares of Ethan Allen Interiors in the third quarter worth $523,000. Finally, Fortitude Family Office LLC purchased a new position in shares of Ethan Allen Interiors during the third quarter worth $129,000. Hedge funds and other institutional investors own 83.80% of the company’s stock.

About Ethan Allen Interiors

Ethan Allen Interiors Inc is an American furniture and home furnishings company that designs, manufactures, markets and sells products for residential interiors. Its offerings include living room, bedroom, dining room and home office furniture, along with case goods, upholstery, lighting, rugs, window treatments, wall decor and other accessories.

The company operates through a vertically integrated business model that combines product design, manufacturing, retailing and interior design services.